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jeff green

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									                                                                                                                                                    Jeff Green
                                                                                                                             Director of Public Communication
                                                                                                                                           Ph: (303) 342-2250
                                                                                                                         Recorded media line: (303) 342-2280
                                                                                                                     Pager (emergencies only): (303) 342-2288


DENVER, CO — April 8, 2011 — The City and County of Denver has successfully completed a bond offering of over
$349 million of Series 2011A Airport System Revenue Bonds for its Department of Aviation, the largest Alternative
Minimum Tax (AMT) transaction in over two years. AMT bonds are tax-exempt obligations that are subject to taxation for
certain higher income investors defined by Internal Revenue Service regulations. The financing, underwritten by Citi as
Senior Manager, was scheduled for a two-day sale period to retail and institutional investors. However, strong demand
for the bonds resulted in all bonds being sold in one day. The City received purchase bids from over 70 investors and
bonds were oversubscribed in every maturity.

“The successful outcome of the bond offering is a reflection of the strong financial framework of Denver International
Airport. I’m pleased that the diligent work that went into our long-term financial planning is seen positively by investors,”
said Kim Day, Manager of Aviation. “The solid pricing of the transaction demonstrates that DIA’s credit is still in strong
demand and well received by investors.”

The Series 2011A bonds refunded all of the outstanding Series 2008A3-A4 bonds, as well as most of the 2000A bonds,
and generated over $10 million in present value savings for the airport. The bonds were issued as fixed rate senior
obligations with a final maturity of 2023. The bond financing is scheduled to close on April 14, 2011.

“In February, we introduced a 10-year financial strategy that included DIA’s Capital Improvement Plan,” said Patrick Heck,
Chief Financial Officer for Denver international Airport. “Having our ratings reaffirmed last week, and investors who were
eager to snap up the bond offering this week, is a confirmation that we have a solid plan that allows us to grow. Our core
financial strengths, such as a strong, competitive airline market; positive traffic forecasts; coverage on our bonds; and
cash on hand lets us meet the needs of the entire Rocky Mountain region.

“We’ve tested our financial model and identified mitigation measures to protect us financially against another economic
downturn,” Heck added, “and we purposely developed a plan that gives us the flexibility to respond to future changes in
the Denver aviation market. Our financial goals are simple: fiscal stability and growth; maintaining competitive operating
costs for our airline partners; and optimizing our existing resources.”

 Denver International Airport is the 10th-busiest airport in the world and the fifth-busiest airport in the United States. With more than 50 million passengers traveling
                             through the airport each year, DIA is one of the busiest airline hubs in the world’s largest aviation market.
                       DIA is the primary economic engine of the state of Colorado, generating more than $22 billion for the region annually.
For more information, visit Check out the Airport's YouTube channel by visiting and become our fan

Release 11-013

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